Podcast 586-Midtown Global Market

 
Giving 2017 context
Live from the Midtown Global Exchange in Minneapolis. (Editor's Note: Unfortunately throughout this live podcast I refer to the Midtown Global Market as 'International Market Square', which is somewhere else in the Twin Cities.)
In 2006 the Midtown Global Market opened to much fanfare after 192 Million dollars was spent to redevelop the old Sears Building on Lake Street in Minneapolis. Tens of millions of dollars in grants, aid and bonding helped pay for the project which was sold as the key to redeveloping a decaying neighborhood.

Just inside the entrance are several large photos of the neighborhood back in the 1920's before the Sears Building was constructed, with no subsidies, at a cost of five million dollars. Looking at those old pictures, knowing the neighborhood, I think of change, and context.

Like any New Year, we're always optimistic about the new year as the date clicks over. We need 2017 context. How was your year? How do you compare it to other years? Did you have a good 2016? Will next year be better? Life doesn't follow neatly defined month and year delineations. Life cycles operate on other timelines. We make decisions individually and collectively. Those decisions provoke change and reaction. It takes awhile for results to appear. Just like this place. The marketplace has struggled since it opened in 2006 and continues to require subsidies to survive. The neighborhood has struggled despite redevelopment at enormous cost to the taxpayers. Is it better?

We live in a time of intense chronicling. Like a teenager's journal, every slight, every insult and every joy is recorded and exaggerated. A person looks back on their journals twenty or thirty years after and does not remember every detail. On the other hand, the Internet records every insult and slight and magnifies reaction. In this environment, perspective and context, so important in human decision making, is distorted as well.

As I